Jumia Technologies (NYSE:JMIA) Now Covered by Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Jumia Technologies (NYSE:JMIA) in a research report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a sector perform rating and a $5.00 price objective on the stock.

Separately, Benchmark dropped their price objective on Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Jumia Technologies Trading Down 3.1 %

JMIA stock opened at $3.89 on Wednesday. The stock’s fifty day simple moving average is $4.81 and its two-hundred day simple moving average is $6.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.80 and a quick ratio of 1.73. Jumia Technologies has a 1-year low of $2.59 and a 1-year high of $15.04.

Institutional Investors Weigh In On Jumia Technologies

A number of hedge funds have recently made changes to their positions in JMIA. Townsquare Capital LLC purchased a new stake in shares of Jumia Technologies during the third quarter valued at approximately $236,000. BNP Paribas Financial Markets raised its holdings in shares of Jumia Technologies by 802.4% during the third quarter. BNP Paribas Financial Markets now owns 2,413,574 shares of the company’s stock valued at $12,888,000 after acquiring an additional 2,146,114 shares in the last quarter. Wrapmanager Inc. purchased a new stake in Jumia Technologies in the third quarter worth $58,000. Claro Advisors LLC bought a new stake in Jumia Technologies in the third quarter valued at $86,000. Finally, Atria Investments Inc purchased a new stake in shares of Jumia Technologies in the 3rd quarter worth about $176,000. 16.50% of the stock is currently owned by institutional investors.

About Jumia Technologies

Jumia Technologies AG operates an e-commerce platform in West Africa, North Africa, East and South Africa, Europe, the United Arab Emirates, and internationally. The company’s platform consists of marketplace that connects sellers with customers; logistics service, which enables the shipment and delivery of packages from sellers to consumers; and payment service, which facilitates transactions to participants active on the company’s platform in selected markets under the JumiaPay name.